South Australian Numbered Acts

STATUTES AMENDMENT (NATIONAL ENERGY RETAIL LAW) ACT 2011 (NO 7 OF 2011) - SECT 53

53—Insertion of Chapter 1 Part 5

Chapter 1—after Part 4 insert:

Part 5— Corporations Act displacement

26A— Corporations Act displacement

        (1)         The Regulations may declare a relevant provision to be a Corporations legislation displacement provision for the purposes of section 5G of the Corporations Act 2001 of the Commonwealth in relation to the provisions of Chapter 5 of that Act.

        (2)         In this section—

"relevant provision" means a provision of the Rules that relates to any of the following:

            (a)         the functions of the AEMO under procedures relating to defaults by retailers;

            (b)         the application (or drawing on) of credit support held by a distributor in respect of a retailer who is the subject of a RoLR event within the meaning of Part 6 of the National Energy Retail Law .